Help, need to buy Gold in The UK

[Mega]

Am looking to buy Gold, i think the crash will be here in Sept/Oct......Got some spare cash. Ok i am in the UK, but have contacts on the Isle of Mann (If that's a better place to buy?)

Your thoughts gents?
Please!
Mike

[Spartacus]

Re: Help, need to buy Gold in The UK

I keep hearing how cheap it is to fly all over Europe.

for your vacation go to Zurich or Geneva and see how much a safety deposit box costs.

Or buy 2 or 3 Maple Leafs (not the 200kilo one) a week in France (or one of the close-by countries that don't have VAT).

Or 25 to 40 silver pieces. Each week. That will add up pretty quickly.

They won't frisk you for coins at the airport, will they?

If the travel expenses are too large, just resign yourself to living with VAT.

Am looking to buy Gold, i think the crash will be here in Sept/Oct......Got some spare cash. Ok i am in the UK, but have contacts on the Isle of Mann (If that's a better place to buy?)

Your thoughts gents?
Please!
Mike

[Mega]

Re: Help, need to buy Gold in The UK

I ask if the Isle of Mann does Gold without VAT. The IOM was great a few years ago, offshore account and no tax, then "Labour+Euro cops" came in now i pay on the saving Blast!

If not I.O.M............any other thoughts to where i might get Gold Vat free?
Mike

[Spartacus]

Re: Help, need to buy Gold in The UK

I have no idea of specifics, I'm just giving you some ideas to try out.

From your reply I'll assume Spain and portugal and Switzerland either also charge sales tax on Gold and Silver, or the travel is too expensive, or you just want to keep the stuff close at hand.

How are your haggling skills?

get yourself to an Indian Jewelry shops in London and see if you can get them to "eat the VAT" on some bullion. Not that they pay it to the government anyway, right? wink wink, nudge nudge).

The problem with going underground of course is you have no recourse if you get ripped off.

You also now have to do assaying to ensure you're not getting taken.

Avoid the VAT and you incur other expenses.

I ask if the Isle of Mann does Gold without VAT. The IOM was great a few years ago, offshore account and no tax, then "Labour+Euro cops" came in now i pay on the saving Blast!

If not I.O.M............any other thoughts to where i might get Gold Vat free?
Mike

[grapejelly]

Re: Help, need to buy Gold in The UK

try http://www.taxfreegold.co.uk/

Never used them myself.

I understand that sovereigns are legal tender and hence exempt from VAT.

I think sovereigns are a wonderful way to buy gold anyway. They are recognized everywhere, have some numismatic and collectible potential, are fractional so not too large, are very pretty and quite liquid.

[Mega]

Re: Help, need to buy Gold in The UK

Thanks
Spot on info, will do shopping about, i like the idea, question is will their value "Float" with the gold price (I expect so).

The other investment i intend is bio-fuels, must find a fund?
Mike

[renewable]

Re: Help, need to buy Gold in The UK

Any investment gold is exempt from VAT across the whole of Europe, as a result of EU legislation. This means that investment gold is VAT free in the UK: http://www.taxfreegold.co.uk/newsabo...tmentgold.html

Isle of Man is a better place to buy other PMs, such as silver, platinum or palladium because they will be VAT free; but for gold you might as well buy on the mainland.

Theoretically, sovereigns & Britannias are exempt from UK Capital Gains Tax: http://www.taxfreegold.co.uk/capitalgainstax.html

Britannias have a high spread over spot and are difficult to find - buy sovereigns.

Taxfreegold is run by Chard and have a good reputation.

http://www.goldline.co.uk is a Baird and Co site, who also have a good rep.

Merrill Lynch New Energy is a UK renewable energy fund (and can be held in an ISA directly with ML UK); Impax Environmental Markets is another renewables fund. Don't know of any biofuels funds - Please post info if you find one, but imo a general renewables fund may be a better bet.

[Mega]

Re: Help, need to buy Gold in The UK

My thanks Sir's for your thoughts and troubles, i am but a fool from Liverpool, but a fool who sure the next 5 years are going to be very differant from the last 20 years!
Mike

[Arnric62]

Re: Help, need to buy Gold in The UK

Sovereigns are certainly one option - especially if the sum you wish to invest isn't too large. Another is Bullionvault.com.

Tax, security and storage costs are issues that you need to consider.

[Mega]

Re: Help, need to buy Gold in The UK

Thanks, any ideas on what Taxes i might face other than gains tax on any profit i might make?
Mike